Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Raised by an extremely frugal parent, I now enjoy freedoms like turning fans on full power when I want to (seriously, how much electricity does that really waste?) and not saving things that are clearly junk but might be able to be fixed or re-purposed in some way. Still, some of that extreme frugality my parents swore by stuck with me.
As an adult, I take pride in being frugal in sensible ways. For instance, I’ve recently started buying the majority of my clothes from thrift stores and online re-sale services, managing to save serious money on either brand-new or only lightly-used, quality-brand items. But sometimes, that’s still not enough to keep me from experiencing spending guilt.
I had a reality check the other day when I felt guilty for spending money on a few items off the clearance and thrift store racks that were for myself. Something that should have brought me joy – finding great deals on clothing I needed and loved – instead had me second-guessing. Why is this? [ continue reading… ]
A friend of mine lost her longtime job back when one of the biggest companies in the state closed during the financial crisis. She received small unemployment checks for nearly a year and a half while she searched for a new one.
With two kids to support, she could barely make ends meet. Soon after her job loss, she stopped paying on her two credit cards and cell phone bill.
The result? Three accounts amounting to the tune of $3,500 are now in collections.
She finally found a new job and started to straighten out her finances a few years later. But by then, her debt was already sent into collections. She wanted to know what the best way to deal with the obligation was and asked for my advice, so I went into research mode.
Here’s what I found out about settling debts that are in collections: [ continue reading… ]
“Come on. We’re going out tonight. You and Rebecca meet us at Dave & Buster’s. We’ll be there at seven.”
“We can’t.”
“Why not?”
You’re at a loss: You don’t want to admit you’ve blown your budget for the month and have no play money to go out with. “Uh, Becca’s not feeling well,” you say. This is immediately followed by that awful feeling of lying to your best friend and the resentment of not being able to go and have a blast.
Money is a complicated subject because we all have unconscious beliefs about it. Financial planners and psychologists refer to these beliefs as “money scripts.” They’re the stories about money we’ve told ourselves since childhood, and they’re often rooted in how money was viewed in our childhood homes.
Once we know and recognize our money scripts, it’s easier to amend the way we view money, thereby improving our finances. Here’s how: [ continue reading… ]
Many of us are unsure about what to expect when it comes to planning for the future. Study after study in recent years indicates that many of us aren’t sure whether we will be able to retire comfortably and “on time.” And with the crazy price increases seen everywhere of late, it really does seem that it’s increasingly difficult for some to feel confident about retirement.
A recent study from Allianz Life highlights the concerns that many feel about being able to meet their retirement goals. According to the survey, 84% of respondents believe it’s unrealistic to start retirement at age 65 by doing exactly what they want. Many believe they will have to work longer, or that they will have to curtail some of their expectations for retirement.
Reading this survey got me thinking about my own retirement confidence, and considering what “retirement” means to me. [ continue reading… ]
Around six months ago, I declared I was going to “unspoil” my kids.
My kids are pretty well-behaved, but I wanted to start teaching them about responsibility and the value of a dollar.
Even though my kids are young – three and five – I’ve still found some ways to start instilling financial responsibility in them.
Here are several ways to unspoil your young children and teach them about money:
Give them simple chores – without pay
As a child, I was never made to do any chores. No washing the dishes, running the vacuum, or even cleaning my room. I think this was a big mistake.
My mom, who worked a day job, tried to do it all. The thing though was that she could never really keep up. Instead of making her three children contribute to the household, she overworked herself. I thought it was normal since this was all I knew. Now that I know differently, I don’t want my kids to think they never have to make household contributions. [ continue reading… ]
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